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Costa to open up to 50 cafes in India every year: CEO
Mint Mumbai
|October 07, 2023
British coffee chain Costa Coffee plans to add 40 to 50 stores in India every year over the next four to five years as it expects greater demand for specialty coffee, especially among the youth. The chain, owned by CocaCola Co., now considers India among its 10 priority markets, said Philippe Schaillee, Costa Coffee's global CEO.
Costa entered India in 2005, partnering food services company Devyani International Ltd (DIL). At the time, cafe chains were new to Indians, and homegrown chains such as Cafe Coffee Day led the market development. Starbucks opened in India in 2012, partnering Tata Group. However, things have changed and younger consumers are now spending more on coffee, encouraging both domestic and foreign chains to open in top cities.
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